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Lattice Semiconductor Lowers Third Quarter Guidance

Lattice Semiconductor (NASDAQ: LSCC) announced third quarter revenue is now expected to be flat to down 2% sequentially. This is a revision from previous guidance of flat to up 4% sequentially.

Lattice’s guidance is reduced primarily because of weakness in North American distribution resale, which has not shown an expected seasonal increase thus far during the month of September.

The reduced revenue forecast is primarily due to a greater than expected decline in mature products.

Lattice expects new products to continue to grow strongly in the third quarter.

Lattice will record a one-time restructuring charge in the third quarter estimated at $1.4 million to $1.7 million. This charge is related to a plan to lower operating expense by reducing headcount. This action will reduce operating expenses in the range of $1.4 million to $1.6 million effective in the fourth quarter of 2007.